Lynch Flynn
02/11/2024 · High School
Ariz is planning to attend college when she graduates from high school four years from now. She has made an arrangement with her father to do the household chores if her dad deposits R3 570,00 at the end of every six months for the next four years into a bank account. The account pays \( 8,5 \% \) interest per annum, compounded semi-annually. Her father pays and additional R5 550,00 into the account for every R3 570,00 deposit he makes. The first deposit will be made six months from now. How much money will there be in the account for Aziz to pay for her college expenses?
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The total amount in the account for Ariz's college expenses will be approximately R92,825.76.
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